November 2, 2017 / 3:29 AM / a year ago

Morning News Call - India, November 2

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    10:00 am: Apollo Tyres post-earnings conference call in Mumbai.
    10:00 am: Textile Secretary Anant Kumar Singh and other textile industry
officials at FICCI’s “Standard for Technical Textiles” event in New Delhi.
    10:00 am: Aviation Minister P. Ashok Gajapathi Raju, Junior Aviation
Minister Jayant Sinha and aviation industry officials at “Aero Expo India” in
New Delhi.
    10:30 am: Revenue Secretary Hasmukh Adhia, CBEC GST Member Mahender Singh,
GST Council Additional Secretary Arun Goyal at Assocham’s National Summit on
Ease of Doing Business event in New Delhi.
    11:30 am: Whirlpool of India MD Sunil D’Souza at launch of kitchen appliance
segment in Mumbai.
    12:30 pm: ANI Integrated Services briefs media about its upcoming IPO on the
SME exchange, in Mumbai.
    2:00 pm: Century Plyboards (India) post-earnings conference call in Mumbai.
Vandana Hari, founder of Vanda Insights, will discuss the outlook of oil price
and preview the upcoming OPEC meeting in November, at 9:00 am IST. To join the
conversation, click on the link: here
    • Indian power plant blast kills 20, injures up to 100
    An explosion at an Indian power plant killed 20 people and injured up to 100
in the northern state of Uttar Pradesh on Wednesday, authorities said, in one of
the country's deadliest industrial accidents in years.
    • Bharti Airtel steps up spending in Indian telecoms war
    Bharti Airtel said on Wednesday it was looking to spend 250 billion rupees
this financial year on its networks, a quarter more than its initial forecast
and mainly to speed up the expansion of its 4G mobile broadband network in
    • India factory activity barely grows in Oct as GST stings
    Indian factory activity barely expanded in October as new orders fell, a
survey showed on Wednesday, as price rises following the introduction of a goods
and services tax dragged on the economy and underscored dim growth prospects
over coming months.
    • Hero MotoCorp Q2 profit up marginally, misses estimates
    Hero MotoCorp, India's largest selling two-wheeler maker, reported a
marginal rise in quarterly profit on Wednesday, missing estimates.
    • Arun Jaitley to head panel to oversee state bank consolidation
    India has set up a panel headed by Finance Minister Arun Jaitley to evaluate
proposals for mergers among state-run banks, the government said on Wednesday,
taking the long-awaited move a step forward.
    • India's aviation ministry proposes rules for commercial use of drones
    India's civil aviation ministry on Wednesday proposed a number of
regulations for the use of drones in the country as it looks to legalise the use
of unmanned aerial systems.
    • Tech Mahindra Sept-quarter profit beats estimates
    Software services exporter Tech Mahindra posted a better-than-expected rise
in second-quarter net profit, aided by key client wins.
    • TVS Motor Q2 profit rises 20 pct, meets estimates
    TVS Motor Company reported a 20 percent rise in quarterly profit on
Wednesday, matching analysts' estimates, as it sold about 16 percent more two
wheelers than the year-ago quarter.
    • Fed keeps rates unchanged, remains on road to December hike
    The Federal Reserve kept interest rates unchanged on Wednesday and pointed
to solid U.S. economic growth and a strengthening labor market while playing
down the impact of recent hurricanes, a sign it is on track to lift borrowing
costs again in December.
    • National Australia Bank to slash headcount as profit breaks record
    National Australia Bank flagged thousands of job cuts as it posted a record
annual cash profit of A$6.64 billion, underpinned by surging home loan volumes
and higher business lending margins.
    • Uzbek man charged in NY attack said he 'felt good' about what he did
    An Uzbek immigrant accused of plowing a truck down a New York City bike
path, killing eight people, told investigators he had been inspired by watching
Islamic State videos and began planning the attack a year ago, according to a
criminal complaint filed against him on Wednesday.
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 10,465.00, trading down 0.20 percent from
its previous close.
    • Indian government bonds are likely to trade steady after the U.S. Federal
Reserve’s monetary policy decision was along the expected lines. The yield on
the benchmark 6.79 percent bond maturing in 2027 may trade in a 6.86
percent-6.91 percent band.
    • The Indian rupee will likely edge higher against the dollar in early
trade, tracking Asian peers after the greenback pared all overnight gains post
the Federal Reserve’s policy decision amid concerns over tax reforms and the new
head's selection at the U.S. central bank.
    • Wall Street posted modest gains on Wednesday after the U.S. Federal
Reserve kept interest rates unchanged and gave encouraging comments about the
    • Asian shares advanced after the U.S. Federal Reserve expressed optimism
about the economy, virtually cementing the case for a year-end rate hike as
investors awaited the formal nomination of the next head of the central bank.

    • The dollar pulled back from a 3-1/2-month high versus the yen, sagging
ahead of a U.S. tax bill that will be unveiled after a one-day delay.
    • U.S. Treasury yields fell on Wednesday and the yield curve was its
flattest since 2007 after the Treasury Department said it would keep auction
sizes steady in the coming months, despite the Federal Reserve's plan to reduce
its bond holdings.
    • Oil prices edged up as U.S. crude inventories fell despite a rise in
production, while outside the United States an OPEC-led supply cut continued to
tighten the market.
    • Gold prices held onto gains after the U.S. Federal Reserve left interest
rates unchanged on Wednesday, and as investors awaited an announcement on a new
chair for the central bank later in the day.
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.59/64.62  November 1       $160.8 mln   -$4.95 mln
 10-yr bond yield  7.00 pct     Month-to-date    $295.69 mln  --
                                Year-to-date     $5.65 bln    $25.94 bln
    For additional data:
    India govt bond market volumes                 
    Stock market reports                
    Non-deliverable forwards data              
    Corporate debt stories               [IN CORPD]
    Local market closing/intraday levels [IN SNAPSHOT]
    Monthly inflows                      [INFLOWS RTRS TABLE IN]

($1 = 64.5600 Indian rupees)

 (Compiled by Nayyar Rasheed in Bengaluru)
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